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his fiscal cliff negotiations with congressional republicans. that's a nod to republicans because they prefer geithner over the president's chief of staff jack lew who republicans believe is stridently opposed to big changes to health care entitlements like medicare and medicaid. white house officials insist though geithner will be in the lead, jack lew won't be far from the fiscal cliff talks. >> pelley: major, what is the white house willing to put on the negotiating table? >> scott, just about everything except social security. the president argues that social security is not driving the deficit problem. it has solvency issues of its own but the president wants those dealt with downstream, sometime next year and on a separate track. now congressional republicans, especially those eager-- or at least willing-- to raise tax revenue want social security, medicare and medicaid as part of the fiscal cliff negotiations. if that's the price tag of a grand bargain, the white house says at least where social security is concerned it's not going to buy. scott? >> pelley: major, thanks ve
. ♪ lou: well, we are going to be assessing what is happening with the fiscal cliff, negotiations, talks tomorrow waste of time between the principal so-called in washington d.c. talking with former congressional budget office director douglas hopes he can hear in moments. first the "moneyline". lori ruined the day on wall street. concerns about the deep discounts being offered by retailers on black friday. worries about the fiscal cliff, greece of combining for a market that pretty much went nowhere today. the dow jones industrials down 42. as into down treatment nasdaq rose ten. the sixth day in a row in which the nasdaq has gained. light trading on the big board. concerns about increases in taxes on dividends for the high-yield dividend stocks of late. today at&t and verizon down, both with dividend yields of just about 5%. most retailers lower on the day despite good news on the holiday shopping weekend. target and walmart among the worst -- losers. investors celebrating what some are insisting on calling cyber monday. in the treasury market, the yield on the treasury's ten year slip
things done. >> as we head into the fiscal cliff negotiations, my advice to the president would be it seems like our friends on the other side are having some difficulty turning off the campaign. we need to sit down and work this matter out. >> it seems like what markets were reacting to this afternoon was harry reid saying there's been little progress. but he actually said there's been little progress with republicans. he's saying he wants the other side to concede more than they have. this is a negotiation. it's very important to remember there's going to be back and forth day in and day out. that's what we saw on capitol hill this afternoon. the markets reacting strongly to it. but the markets other day when the leaders came out of the white house also got it wrong. they said they had a constru constructive meeting. markets rallied. that was a meaningless bit of washington jargon. that sentence didn't give us any information. harry reid's sentence here today gave us information that he wants more out of the republicans. what you're seeing is an unfolding negotiation here, not
just the next decade. obamacare. so far so good. the fiscal cliff negotiations under wa. business leaders go to washington meeting republican and democratic house leaders. but is what is good for business really good for the country? the "a-team" next. the government tracking terrorists, criminals, and students. a texas school district wants to attract their students. big brother not a big hit with the students. protests are up in egypt over president more seize power grab. will the united states it by quietly as he makes his move to become their leader? and is sure real law next? acclaims dollar mile east ♪ [ engine revs ] ♪ ♪ [ male announcer ] the merdes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. ♪ here come the -- [ cap twisting off ] hey, yo?! i lost audio. what happened?! [ ice crackling ] what!?!? oh, it better not be! what's going on? ♪ it'sime to put a stop to this! yay-e, yay-e! [
from the white house. let's talk about the fiscal cliff negotiations. what negotiations? what's happening behind the scenes? >> first of all, i just heard what mr. mcconnell said. and i just left the president. one of the things that he said to us, he said, don't pack up your bags. in other words, he's determined to get this deal done and get it done before the end of the year. the fact is, the president is very much engaged but he also understands that one of the things he's got to do is get a balanced package done. he's got to have revenue and he's also got to have some very targeted cuts. so -- and he also is trying to get across the point that republicans and democrats agree that those folks making less than $250,000, their tax cuts should be extended. so, again, we've got a situation now where the republicans can stand on the sideline or they can adhere to what the public has said in this election. they want us to get the deal done and move forward. at least we can get done what we already agree on. >> would you agree, auwould you and other house democrats agree in some w
they were crazy out of expectations. everything is about the fiscal cliff negotiations. if we see headlines tomorrow we are going to see some market movement. if we don't the market is going to be dead. we want our clients in there buying stocks. we want them to commit money to the market now. we think the market will be higher into 2013. >> thank you. michael you're up next. what are you watching tomorrow? >> first of all as a proud notre dame alum i want to give congratulations to brian kelly. things focusing on for tomorrow the retail space. obviously with black friday and cyber monday yesterday a lot of focus on retail. we will get progress reports tomorrow morning. ann taylor and american eagle pretty bullish on both. probably one of our best cyber monday plays has been ebay. >> you got to praise notre dame and bad news you took up half your time. kevin. 30 seconds. >> we'll be focused on the new home sales report for october and the fed's beige book. new home sales on a month to month basis are very volatile. expectations are for little change but i wouldn't have too much conviction a
in jerusalem, thank you. jon: and one of the big domestic stories, the fiscal cliff negotiations underway right now. entitlement reform is a big part of those negotiations. republicans say the nation must make adjustments to those costly programs. in exchange they say they're willing to compromise on taxes but so far no word from democrats. why? we have a fair and balanced debate next. >>> plus the supreme court breathing new life into a challenge to the health care law. the latest on that coming up. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. now is a good time to think about your options. are you looking for a plan that really meets your needs and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all
of the fiscal cliff negotiation may really ride on that point. now at a white house briefing they need to double down on the long held belief households with income above 250,000 dollars must pay a higher rate. they are open to higher taxes but they are pushing the idea of eliminating deductions for high income earners. >> we will continue to wait on the president and hope he has what it takes to bring people together and forge a compromise. if he does we will get there and if he doesn't, we won't. >>> it's that simple. >> president obama is going to meet with the carefully selected group of business leaders to get their input. how the republicans will do the s same. there will be little room for compromise. >> they once again urged the senate to pick up the house passed bill extending the hacks breaks for millionaires and billionaires. as president the senate has considered this bill. we jeekted it on a bipartisan basis. it was load down in this congress. >> republicans are looking for some willingness on the part of the white house to cut spending or maybe tackle big costly entitlement problem
democrats in negotiations with the house republicans over how the avoid the so-called fiscal cliff decided for now to forgo further talks with the top lawmakers. task now delegated to the treasury secretary geithner it go and others. instead, president obama is utahing this critical week to meet with the ceos from small and big business and middle class taxpayers before boarding air force one on friday for campaign style rally in the philadelphia area. >> rather than sitting down with lawmakers of both parties an working out an agreement, he is back on the campaign trail. we are not going to this problem creating villains and drumming up outrage. >> he will be out trying to i'm sure zero in on those states that are represented by members of the house and the senate. to try to get public support. >> republicans quickly moved to set up their own photo ops with the small business leaders. the white house said g.o.p. complaints about the president's schedule was the time for talks dwindling was disparaging to ordinary americans. >> it seems like the talks broken down. am i wrong? >> i think yo
of the cut the democrats are willing to offer in the fiscal cliff negotiations. he said, "we need to get credit for cuts previously made." this is today. the cut previously made. i'm scratching my head to figure out what cuts the democrats made prior that they want credit for. if they did make credit cuts why did we run up four more years in a row? start fresh right now. talk about cuts and then talk about how are we going to raise revenues. >> eric: what would -- >> dana: what would harry reid mean by that? get credit on cuts they made. on what? >> bob: that is a $60,000 question. i'm not sure what he is talking about. but i know there will be cuts if entitlement program. readjust in the the entitlement program. there will be a tax increase on the wealthier americans of some size. i cannot believe that obama is going to travel around the country to make us think about this. if he doesn't think he will get them to go along with some marginal increase rates. >> dana: good point. let's get your take on that. president off campaign trail and major victory in the 2012 election. now he will g
that once this obama administration priorities past and has a certain outlook and the fiscal cliff, but every single one of the people that are voting and that persons district has an interest in this fiscal cliff negotiation happening, and interest in the compromise being made. and so those -- when the first freshman wave of the party is came in in 2010, when we are negotiating the grit -- debt ceiling this would be the first a dull moment for these freshmen tea party years. this is a second of all moment, and both sides are going to have to make serious painful concessions whether democrat who sacrificed domestic spending on programs that ou think a really important or republican. and generate more revenue with taxation. what the constituents once a republicans to take their oath of office more seriously. melissa: everybody has a stake in the ground about what they want their congressman to do. all very different. that's or hung up. that's -- thank you for coming up. >> thanks for having me. melissa: an unprecedented power grab assets of violent protests as that treat sets and be
. >> democrats hold all the cards in fiscal cliff negotiations, but you wouldn't know it from these remarks from senior adviser david plouffe. >> revenue and how much and where does it come from. democrats are going to have to step up and do some tough things. >> congressman peter defazio is here to respond. >> ceos begin their campaign to roll back the social safety net. >> social security wasn't support you for a 30-year
harrier than it should be. >> democrats hold all the cards in fiscal cliff negotiations, but you wouldn't know it from these remarks from white house senior advisor david plouffe. >> the big
and medicaid should not be part of the fiscal cliff negotiations. should entitlements not be on the table? >> at the meeting with the floor leaders, president obama said social security is not part of what we're going to do on this. i agree with him. there are things -- i personally believe there thinks he can do with entitlements that don't are beneficiaries. but i'm not going to negotiate this with you other than to say we hope they can agree to the tax revenue we are talking about and that its rate increases. as the president said on a number of vacation, we are happy to do with entitlements. >> conventional wisdom on a fiscal deal as it has to include revenues and cuts. you've made clear how you feel about revenues. with the first thing on the list to cut? >> remember, we've done more than a billion dollars worth of cuts. we need to get some credit for that in these negotiations that take place. [inaudible] -- any deal includes taking the debt ceiling off the table and also guarantees on the discretionary level -- [inaudible] >> on first about the day feeling, we would be somewhat foo
is not the time to throw those into the fiscal cliff negotiation. mitt said he is not going to accept things like privatizing medicare. we're back after the break. ♪ the future of one great nation. but only barely, because the sun was like, way in my grill. george mcclellan, the general, hands me his pair of foster grant sunglasses, and i could see! my wife, mary todd, found them so fetching. >> he looked so fine i started to call him babe-raham lincoln. >> i was like, mary, please. >> you look like a baby, a literal child. i bought a pair online, shipped to 115 main st., that's my gettysburg address. i'm funny. i find them to be affordable frames, of the people, for the people, and, not, by the people, that's part of this freedom thing. end slavery, let people buy awesome sunglasses. who's behind those foster grants? abraham stinkin' lincoln. >> i came up with that slogan myself. before the sneeze, help protect with a spray. before the tissue, help defend with a wipe. before the cold & flu season help prevent with lysol. because when you have 10 times more protection with each
to let the bush tax cuts expire and keep social security out of the fiscal cliff negotiations. lawmakers are being presented with this written letter in part by richard trumpka who is the president of that. accusing republicans of holding the economy hostage in that letter saying the ransom demands are tax cuts for the wealthy and benefit cuts for working people. how do you respond to him saying that basically the right is holding hostage takers basically of the american economy at the expense of the working man for the benefit of the wealthiest americans? >> the only senators i've heard, you know, threaten the american public in terms of taking the economy off the fiscal cliff is harry reid, president obama, he says he wants to compromise. he says there's only two options here, take the economy off the fiscal cliff or do it my way. that doesn't sound like something he's willing to negotiate in good faith. so, listen, republicans want to restore confidence and certainty to this economy. i don't think want to play brinkmanship, the way to do this is through pro-growth tax reform. i'll quo
in industry groups, they want to raise it as part of the fiscal cliff negotiation. that is a bad idea. first of all, we don't need another tax, period. it's just going to slow down the economy and damage consumers. second of all, it shut should be a state and local decision, not a federal decision. this is so important. yeah, bridges need to be upgraded and so forth, but, again, this is no time to burden motorists with higher gasoline prices that have more than doubled in the last four years and no time to burden consumers with another tax burden. now, there's one man in washington who is a true leader in the fight against out-of-control spending. what does they think about where the fiscal cliff talks are going? can he possibly be happy with all this talk about revenues and nothing about making spending cuts? we welcome back senator tom coburn about to join us next up on "kudlow." >>> tomorrow is the city is rising above the stalled economy. top companies that have outperformed the s&p. that's tomorrow on cnbc. >>> welcome back to "the kudlow report." i'm larry kudlow. in this half hour let
somebody more permanent more immediately. >>> a long, drawnout fiscal cliff negotiations aren't to go the market any favors. becky quick is here with the market rundown. becky, i'm just thinking, how is the market going to handle what i'm sorry to say is going to be a very repet it tiff next couple of weeks? none of the real deal making is happening. >> reporter: there's some serious issues out there. we had roger atman on the show. >> potential treasury secretary. >> reporter: a former deputy secretary. he said, look, we could be in for some really rough riding over the next several weeks. if you get up towards december 15 and beyond, if there's not a deal, his guess is the equity markets will react much like they did back during t.a.r.p. i don't know if you remember that but when the house was expected to pass t.a.r.p. it was brought to the floor and voted it down. the market's instantaneous reaction was to drop 800 points. he thinks we would see similar moves like that and that would be what would put pressure on both sides to kind of come together and come up with some sort of a d
of the key players in the fiscal cliff negotiations right here on "now" when senator patty murray joins us tomorrow at noon eastern. >>> and coming up after their romney nominee received just over a quarter of the latino vote republicans say they're ready to put up when it comes to comprehensive immigration reform. what are they doing about it? so far putting up a lot of window dressing. the display when telemundo's jose diaz-balart joins us ahead. want to try to crack it? yeah, that's the way to do it! now we need a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with health care professionals who understand the difference that quality time with our members can make... that's a very nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped us achieve the highest average star rating among national medicare companies... and become the first and only national medicare advantage company to achieve a 5-
negotiations -- fiscal cliff negotiations. gene spellering, an adviser and rob neighbors. again, it will be timothy geithner taking the leading role. we expect behind the scenes the president himself is actively involved. we don't know of any additional meetings that will be taking place. yes, you know, you do hear from some republicans who are saying you know, where is the leadership from the president. they want to see the president more actively involved. the president will be hitting the road this friday to make his case for these middle-class tax cuts being extended for middle-class americans. for wealthy americans that pay more, sort of pushing his case. and as you pointed out, the president meeting with business leaders here at the white house tod today. harsh criticism coming from capitol hill, from senate leadership, republicans who say the president should be spending time negotiating with them, not campaigning on the road. listen to what mcconnell had to say today. >> it was with some concern that i read this morning that the president plans to hit the road next week
signaled that early on during that fiscal cliff negotiation, if he were to get re-elected, he sees at least a little bit of leverage there, if not a mandate to be able to go and campaign outside to put pressure on house republicans who might be thinking about maybe signing onto something but not totally sure if they will. use some of that outside pressure to try to sway them to be more open to compromise. >> all right. thank you. let me bring in maryland congressman, chris van hollen. thank you so much for your time. >> tamron, it's great to be with you. >> let me get your reaction to speaker boehner's words, and he said the target of the president's rally should be the congressional democrats who want to raise tax rates on small businesses rather than cut spending. your reaction, sir? >> look, the president is doing exactly the right thing. first of all, during the campaign he was crystal clear that if we take a balanced approach to reduce the long-term deficit, that requires a combination of cuts. it also means asking high income individuals to pay a little bit more. that was a key issue
for the middle class in fiscal cliff negotiations? text a for "yes," b for no to 622639. go do our blog at joining me tonight, congressman peter defazio of oregon. great to have you with us. how alarming do you think david plouffe's comments are? >> very concerned, ed. it's like the election didn't happen. it's kind of back to where the president was negotiating with the republicans when they had a stronger hand and threatening the full faith and credit of the united states of america and economic collapse. he won big about talking about taxing the upper income people. and you know, not hitting the middle class with more cuts and social security, medicare, medicaid. social security not a penny to the debt or deficit. medicare, he wants a quart of a billion over ten years, easy. let's negotiate prescription drug prices like every other advanced industrial nation in the world does. that saves a quarter of a billion dollars a year for med care. medicaid is a key part of obama i don't know and what mr. plouffe was talking about. i think he got the republican talking points mixed up
reid. he said he was disappointed there has been little progress in the fiscal cliff negotiations the dow down 89 points. >>> shares of green mountain coffee though jumping after the bell. the company brewed up better than expected fourth quarter results. investors also cheered the company's new hire. david: fiscal 2013 forecast. >>> the xbox may be the gift of choice for many holiday shoppers this season. microsoft said it sold more than 750,000 videogame consoles during the black friday week. that outpaced nintendo's wii u which sold 400,000 units in the first week on u.s. market. microsoft reports that the windows 8 operating system registered 40 million upgrades since its launch october 26th. that's the latest from fox business network, giving you business network, giving you the power to prosper can i help you? i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open ll night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on grou
into the fiscal cliff negotiations, my advice to the president would be... it seems like our friends on the other side are having some difficulty turning off the campaign. we need to sit down and work this matter out. i think we have a clear sense that there's an opportunity here at the end of the year to do something something important for the country. >> brown: at the same time there were some signs on both sides of the aisle that there might be a little give in previous positions. republican senator bob corker of tennessee outlined his proposal in the "washington post." he called for tax revenue increases, including a cap on itemized deductions coupled with curbs on social security and medicare benefits. corker joined several republican senators and house members who have suggested they might abandon a longstanding pledge not to raise taxes. but the author of that pledge, conservative lobbyist grover nor quist, played down any hint he's losing influence. he called it, quote, a complete media-created frenzy. on the left, democratic senator dick durbin of illinois urged liberal groups to give w
at but not part of the fiscal cliff negotiations. so if that is the case you change that at all right now? >> let me say this. i know that we have people out posturing and again we have all kind of folks that just want to sweep this under the rug and let the problem get even bigger. the fact is the two most important people are the president and speaker boehner. both of them in the beginning of this have shown a degree of flexibility. what we need to do, people like myself offer concrete solutions to solve this problem. when they get in their meeting they need to have these at their disposal and we as a country again need to go ahead and deal with this issue now. i know that senator durbin actually has shown some strength for what it's worth, i don't know what he will do today in his press conference but he has been more, he has been more than willing to look at medicare reform. bill: one more question. why do you want to go after revenue at all? you're $16.2 trillion in the hole? i mean your entire life any money washington gotten it has spent? >> yeah, i think all throughout this campaign repub
know, we did just get an update from the white house on the fiscal cliff negotiations. just take a listen to this, if you would. >> the president spoke with the speaker of the house as well as the senate majority leader over the weekend. he will continue to have discussions with those two leaders as well as leader pelosi and senator mcconnell in the days and weeks coming forward. i don't have a schedule for those conversations to provide to you, but he will speak with them and meet with them as appropriate. >> senator, all this talking, will you tell us, tell americans if you're in the loop, if you are privy, tell us who is talking to who in these fiscal cliff negotiations and where are the talks happening? >> you know, i'm not included in those talks. i've been talking with the folks in my state in kentucky, though, and they're not interested in raising taxes, they think it is a bad idea for the economy. the only way to have a stimulus to the private sector is to leave more money in the private sector. the other thing that folks in kentucky don't understand is that why is it a f
said in a speech today that medicare, medicaid should not be part of the fiscal cliff negotiations. should entitlements not be on the table? >> in the meeting i had with the president and the four leaders, president obama said social security is not what we are going to do on this and i agree with him. there are things that i personally think we can do with entitlements that don't hurt beneficiaries. but i'm not going to negotiate with you simply other than to say that we hope they agree to the tax revenue that we're talking about and that is rate increases and as the president said on a number of occasions, we'll be happy to deal with entitlements. >> the congressional wisdom on a fiscal cliff deal does that include receive news and cuts. you made it clear how you feel on revenues. >> we have already done more than $1 billion worth of cuts, so we need to get credit for that in these negotiations that take place. >> senator durbin said he thinks that president obama won't include a deal [inaudible] >> first of all, the debt ceiling. we would be foolish to work out something on stop
recess urged the president to make the first offer in fiscal cliff negotiations. and they expressed a new openness to raising tax revenue, if democrats agree to make cuts to strengthen medicare and medicaid. >> elections come and go. and when they go the spirit to find common ground becomes greater. >> reporter: georgia republican saxby chambliss and mark warner lead the gang of eight. four senate democrats and four senate republicans, who originally met in 2007 to craft a plan to cut the debt. >> you still don't have a final product after 2 1/2 years. why do shud we have any confidence that the president and the leaders should get anything done in the next two weeks? >> anything we look at we won't completely reform the tax code or completely make all the changes in the entitlement programs in the next seven weeks. over this last 2 1/2 years, we all know where the issues are. can we make enough of a down payment to assure the markets and put a real process in place that will allow us to work through this? >> reporter: chambliss says he and other republic
. melissa: three weeks since the election and no signs of promise with the fiscal cliff negotiation. can they settle differences before we go over the edge? rich edson has the latest. >> three weeks later washington politicians take the fiscal clipper demint to the voters again. obama's heads to suburban philadelphia. white house officials will say he continues to make his case to keep them where they are earning less than two 1/5 thousand and those making more. after a week of meetings of ceo and business leaders but not any with congressional negotiators. >> instead of sitting down with lawmakers to work out agreement, he is back on the campaign trail with the same talking points. >> the president tries to dramatize what the president shows the 60% of voters agree the wealthy should pay more in taxes. >> and republicans are responding that house republicans will visit local small businesses to emphasize the threat to jobs posed by the small business tax hike. lori: the epa may impose new regulations on air quality and carbon emissions and now one of particular is trying to prevent them
of movement we have seen on fiscal cliff negotiations and washington. all of the highs, certainly. dagen: from stocks to housing right here at home. gaining 3% year over year in the month of september they came in a little bit above expectations. six straight months of good news on that index. bob shiller is here. can this continue in a straight line? >> a straight line, up at 3% a year. that is pretty good, reasonable forecast. it sounds like a reasonable @orecast. that is not much above inflation, but it is an increase dagen: have people's expectations of home prices and improved? heavy seemed evidence of that? >> we do a question of surveys and homebuyers. our last survey it was in june. we did see a whole lot of improvement in expectations. i am a little puzzled. part of what is happening is foreclosures are falling behind us. the index looks better because there are not as many foreclosures. dagen: is so much of it related to interest rates, bob? >> interest rates are at historic lows. that certainly is a factor. i think people have gotten kind of trigger happy with some people thinking t
and next year, and on fiscal cliff negotiations, the oecd said, quote, diseaecisive policy actis needed to ensure that stalemates over fiscal policy in the united states and continuing euro area instability do not plunge the world back into recession. plunge back into recession the whole world, a very bad, bad idea. >> a lot of menacing terms there. fiscal cliff a menacing term here. now we know we are just under 35 days away before we fall off that cliff. which could lead to deep spending cuts. want to bring in republican senator pat toomey from pennsylvania. he was a member of the deficit reduction super committee last year that failed to agree on a plan. but he's been talking about this issue for a long, long time. good morning, senator. >> good morning. >> we just learned that president obama will be traveling to your backyard on friday to talk about the fiscal cliff and spending, and traveling to pennsylvania right now. is this a welcome visit as far as you're earned? >> as far as i'm concerned the president of the united states is always welcome in my state of pennsylvania. we wel
at a rate of 2.2% this year. that's lower than previously expected. and on fiscal cliff negotiations, this is what the oecd said, quote, decisive policy action is needed to ensure that stalemate over fiscal policy in the united states and continuing euro area instability do not plunge the world back into recession. and, here in sandyland, many people have been in the dark for days. some for weeks, after superstorm sandy. and some are now getting power bills that show normal usage. the long island power authority is assuring customers, don't worry, the next actual meter reading will reflect how much you've used, and they'll adjust your bill, and i'm telling you, there are some lipa customers right now who are outraged. after all they've been through. >> as well they should be. >> they are getting electricity bills reflecting normal usage, and for many of them it's been days, some of them it's been weeks with no power. and bring you up to speed on cyber monday. what's your best guess on what people were out there buying? >> i would have thought apple products? >> yeah. had to be electr
. coming up on "cbs this morning," an update on negotiations to avoid the fiscal cliff. plus, a warning about pork chops and ground pork and the harmful bacteria they may harbor. and pastor rick warren on the tenth anniversary of his best-selling book, "the purpose driven book." take care, everybody, have a great day. ,,,, i'm frank mallicoat. and i'm michelle griego. tis 4:-- developing n >> your realtime captioner: linda marie macdonald. >>> good morning. it's tuesday, november 27. i'm frank mallicoat. >> i'm michelle griego. time now is just about 4:30. we're following some developing news this morning. an armed man keeps police in a standoff through the night and you are looking live at the scene right now off treasure island. cbs 5 reporter elissa harrington is in san francisco with more exclusive video of the standoff on treasure island. she joins us now with the very latest. good morning. >> reporter: good morning. well, this standoff started around 11:00 last night so we're going on almost 6 hours. in this video you can see police officers and the suspect holding a gun
ground here in washington. as we negotiate a path back from the fiscal cliff, we should also recognize when democrats and republicans agree. we agree taxes should not go up for anyone making less than $250,000 a year. 97% of small businesses and 98% of middle-class families would benefit from that. with common ground in sight, we should be able to act today to avert the fiscal cliff for millions of families and businesses. even if we disagree on whether to extend tax breaks for the wealthiest 2% of americans, we should agree to hold the middle class harmless and do it today, do it mao. a single vote in the house of representatives would get the job done now. unfortunately, there's one obstacle standing between congress and a compromise: grover norquist. for years, no norquist has bulld lawmakers. his brand of ideological extremism has been bad for congress and even worse for the congress. so i was pleased to see republicans in congress distance themselves from norquist this week. i appreciate that etch have. and so do the american people. and i'm sure their constituents do. several rep
. the fiscal cliff negotiations. erin burnett is going outfront on this story with one of the key senators of the talks. what's going on? >> mark warner of virginia, one of the wealthiest men in congress and a democrat, of course, wolf, he's been working on this for years and he's frustrated tonight. harry reid said he's frustrated a deal isn't close, the market fell. the implications here are serious. senator warner comes outfront to talk about what he's will go to do on tax rates and has an interesting idea on that. and we're going to talk about the definition of motherhood. a woman and her best friend decided to have a child together, his sperm and a donor egg. and after she gave birth to the child he said i'm gay, i'm the biological father, i want the child. what happened? a judge has just ruled on this. a pretty fascinating definition of what a mother really is. that story also at the top of the hour. back to you. >> look forward to the show, erin, thank you. >>> up next here, christmas carols with a touch tone twist. on the new way to sing holiday favorites. ♪ list of almost two th
states today. >> dick, thank you very much. >>> coming up, economic data, fiscal cliff negotiations, geopolitical concerns. kevin ferry will connect the dots for us. [ male announcer ] this december, remember -- you can stay in and like something... or you can get out there and actually like something. the lexus december to remember sales event is on. this is the pursuit of perfection. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. or that printing in color had to cost a fortune. nobody said an all-in-one had to be bulky. or that you had to print from your desk. at least, nobody said it to us. introducing the business smart inkjet all-in-one series from brother. easy to use. it's the ultimate combination of speed, small size, and low-cost printing. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of
negotiators, this a fiscal cliff, you are putting pen to paper. >> both sides have to offer something. >> they have. neil: democrats ? >> grand bargains, and concessions on addressing entitlement. neil: today carney said leaving social security alone. >> i have not heard any on concessions. >> obama did come to table on certain things, as did john boehner, unfortunat unfortunatea tea party guys came to the table. neil: that is mark. >> once again year irrelevant. this is the tea party guys fault. this is against mainstream, all of them want big spending, that is what they are looking for, maintaining a big government is in their interest, people cannotment it any more despite electoral results exit polling show people' less deficit, less debt they are worried about long terlong-term financial security. >> they said they would like to raise taxes on 1% of earners. >> they are so evil. >> thank you very much. you might have heard about this you get a blue flu shot every year this time, what if i told you, there is a place, you don't get a flu shot, you loss your job. talk about a real n
.com. talking about the fiscal cliff and how to avoid it. and the negotiations now underway. what's up? >> we're tweeting at bp show at bp show. you can find us there. we've been getting a lot of comments on twitter from people saying forget it. let's just go over the if is cal cliff. it is -- let's go over the fiscal cliff. here's one comment that encapsulates what a lot are saying. we must go off the cliff. it is the only way we'll get real cuts to out-of-control military spending and taxes raised on the rich. i'm throwing it out there for you two big brains to discuss. >> unfortunately, i can understand the sentiment but it is probably not right. going off a cliff is the worst fiscal policy we could do. the economy is not in a position right now where it can handle that big of a reduction. should we do those things? that is cut military spending? but it's gotta be done in the proper context at the right time. more gradually. so you know, it's going over the cliff would accomplish those things but it would also
treasury secretary tim geithner to lead negotiations on these fiscal cliff talks. rob and paula, back to you. >> both sides are going to have to give a little. both sides. should be interesting. the president now trying to make a public push. he's meeting with business leaders to try to sell this plan. the white house warning closer and closer, the average family will pay $2,200 more a year in taxes if we go over the cliff by the end of the year. >> republicans coupling this with the entitlement program saying, we will do this if -- comes down to say they're closing tax loopholes, yes, we will do so. raszing taxes, they don't want to do so. >> the president said during the first news conference. look, i understand the loophole argument you are making that is not enough money to get us where we need to be. seems to be a divide there. intense negotiations you can imagine behind closed doors and in front of the camera. >> closer we get the more leverage the president has. >> merry christmas, everybody. >>> well, moving on now to a unique brand of football from northern minnesota, the sta
's numbers are up, hopefully that helps moving into the negotiations about the fiscal cliff and all else. essentially the message in washington, we need to see a little bit of progress. >>> former governor jeb bush met yesterday with former staffers near the white house where he reportedly entertained questions about his political future. >> huh. >> according to "the national review," governor bush sat down with a number of veteran florida operatives along with mitt romney's campaign pollster. the article says mr. bush, quote, remained coy about making a run for the white house. instead deflecting the focus toward his efforts on educational reform. >> and the question is -- richard, the drudge report had the headline bush iii. are americans going to -- regardless of how qualified he is. are they going to be turned off by possibly electing a bush when you have history of bush for eight years, clinton for eight years, obama for eight years, another bush when there was actually, you know -- well, wait, bush, clinton, bush, obama, bush. >> that's probably due for another obama. i think bush
the "fiscal cliff." he is meeting today and tomorrow with small business owners and middle class families and he will visit a small business in pennsylvania on friday. negotiations with republicans continue behind closed doors. a democratic senator says his side is willing to discuss reform of medicare and medicaid. >> the math just doesn't work anymore. not because the programs are bad but because thank goodness we're living longer. >> republicans are signalling they're open to compromise but so far, they still oppose the president's idea to raise taxes on the wealthy. instead, republican leaders want to limit tax deductions and loopholes without an agreement. across-the-board tax hikes will take effect on january 1 without an agreement. here's a breakdown of what would happen. for households earning 20 to $40,000, the tax increase would be $1,200. for householder, 40 to $64,000, the tax hike would be $2,000. and with those incomes of $64,000 up to 6 figures, it would be a $3,500 tax increase. >>> it's not all dire economic news. retailers are still looking for workers this holiday seaso
the fiscal cliff remains a distinct possibility come january 1st, keeping some buyers on the side lines as well. that's what you see here. coming up, governors can't afford to stall. they have to balance their budget. day two of our governors on the edge, our series on how individual states are dealing with the budget mess. it is a fox business exclusive. delaware governor has some ideas. you have to hear what he has to say. the nasdaq, trying to tune out all the noise. if the nasdaq can turn it around and post positive gains here by the close, it will be the seventh straight day of gains, the longest winning streak in 16 months, seven days in a row, and yes, i know, positive gains is redundant. just seeing if you're paying attention. you know what? somebody is always making money. don't ever let the markets fool you. if something is down, somebody else is making money on the other side. let's find out from our traders at the new york stock exchange, cme group and the nymex for our floor show. teddy weisberg, who is making money today? >> it is a market of stocks, not a stock market. yo
leaders. that is what is happening so far this week. in the negotiations or the fiscal cliff. public events, private meetings, so far they are not set a date for them to get together. some quick headlines. tensions intensified in egypt as the muslim brotherhood president -- he has met with judicial leaders. that is the latest of egypt. and the los angeles times, syria is now a shell of its old self. the los angeles times reporting on that. and then this tension debate on whether susan rice should become the next secretary of state. this is the washington times. but as far back to our discussion this morning for all of you. going off the fiscal cliff, some democrats are saying that the possibility and wouldn't be so bad. steve, on our line for republicans, what do you think? caller: i totally agree with the caller from texas who said that we should return to the clinton era tax law. just think of that era we had. we had a budget surpluses. and we had a winning prosperity. i do not think we need to fear returning to the clinton tax law. and as the caller said from texas, the democrats
. the negotiations continue on the fiscal cliff, we look at how we got here. senator dick durbin will talk about efforts to resolve the fiscal cliff. starting at 11:00 a.m. eastern. tomorrow on washington journal, jack girard of the american petroleum institute talks about alternative energy efforts. and christina ellen discusses long-term unemployment benefits ending in january without congressional action. after that, bloomberg television reporter dominate chu about what investors are doing with their money. washington journal is live at 7:00 eastern here on c-span. now, reaction from senate republicans to the passage of the debt ceiling increase part of an august 2011 deficit reductn agreement. mitch mcconnell and other republicans. >> i know you are going to miss this, you just hate to see us go. we are going to miss you, too. obviously, the biggest concern is jobs and the economy. things have actually gotten worse since the president have to take -- has taken office and we need to move in a different direction. the american people do not believe that raising taxes and killing jobs is a dire
. >> negotiations continue with president obama and congressional leaders about the fiscal cliff. we took your phone calls this morning on "washington journal" about that. >> host: at the daily news conference at the white house, jay carney, the spokesman there was asked about liberals who are advocating going off the so-called fiscal cliff. here's what he had to say. >> rather, he spoke with speaker boehner and senator reid over the weekend. he will meet with them at the appropriate time as well as obviously nancy pelosi and mitch mcconnell. so, the process that he began is continuing. we continue to be optimistic that a balanced approach is achievable. we know what the solutions are. i think what was said in an op-ed, one benefit of all the debates we've had, negotiations and discussions over the past couple of years on this issue is we know what the parameters of a balanced solution to these challenges looks like. they include both spending cuts and revenues, and entitlement reforms. they have to have all three legs to be a part of it. >> host: jay carney yesterday at the white house when he was
at the last minute negotiations congress is facing as the fiscal cliff and those near. pieces of confetti at macy's thanksgiving day parade last week are created quite a buzz. investigation is under way after a closer inspection of that can fatty reveal some personal information. and a lawsuit over the severe beating of a giants fan outside of dodgers stadium last year. look at you guys with your fancy-schmancy u-verse high speed internet. you know, in my day you couldn't just start streaming six ways to sunday. you'd get knocked off. and sometimes, it took a minute to download a song. that's sixty seconds, for crying out loud. we know how long a minute is! sitting, waiting for an album to download. i still have back problems. you're only 14 and a half. he doesn't have back problems. you kids have got it too good if you ask me. [ male announcer ] now u-verse high speed internet has more speed options, reliability and ways to connect. rethink possible. >> we're 36 days away from the fiscal cliff. lawmakers say the stakes are very high. the question tonight is that compromise in the air? >>
incorporated into the negotiations on the fiscal cliff. he will be having discussions today, but we should be careful. they won't necessarily be listening sessions as they will be rah-rah sessions to try get support for president obama's proposal to have the tax cuts extended for folks who are making less than $250,000 a year. but for them to be sun setted for those making over $250,000 a year. >> the president had a similar meeting with heads of large companies. will he hear anything different, or will it be, as you said, a rah-rah "in session." >> i think it will be a rah-rah meeting. he will hold a meeting with other business leaders tomorrow as well as holding a separate meeting with folks who are middle class income who will be hurt by the fiscal cliff if in fact it is not resolved here in washington, d.c. but on friday, he's going to leave washington, d.c. he's going to go pennsylvania. when he's in pennsylvania he's going to visit a manufacturer that builds toys, specifically they build the tinkertoys as well as the connects building sets. he's i to get support from all corn -- he's
against the clock trying to reach an agreement on the fiscal cliff that is fast approaching. the president is trying to ramp up public pressure on congress to accept his ideas for debt reduction in. in the coming days he meets with small business owners, middle class taxpayers, around corporate leaders. friday he tried to recapture his winning spirit in pennsylvania touring a toy manufacturing plant. i don't think the event is in whoville but the republicans as grinch playbook is probably evident enough. to hear some of the president's team, they see this christmas going their way. >> i think we're going to get this done. i'm more positive than most. i'm heartened by many ever my senate republican colleagues who have stepped forward and basically said that their real oath is to america and not to a washington loppiest named grover norquist. >> it's actually true. some republicans have signaled a willingness to buck grover norquist and his anti-tax pledge and raise some new revenue. "the wall street journal" weighed in with a reasonable argument. president obama's re-election means the taxe
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